Ms. Claire Stawnyczy reports
LOPHOS HOLDINGS INC. PROVIDES UPDATE ON MORTGAGE NOTICE
Lophos Holdings Inc. has received a notice of sale under mortgage, affecting its property
located at 100 Circuit Rider Dr., Napanee, Ont.
The notice states that default has been made in payment of the moneys due under a certain
mortgage made between Eric Hancox, Vassil Staykov and Sandra Williams and 2515585 Ontario Inc., which is associated with Lophos. The
amounts are claimed by the mortgagee for principal money, interest, taxes, insurance premiums
and costs totalling $1,996,557.95.
The company acknowledges the seriousness of this notice and is taking immediate steps to
address the situation. The details of the amounts due are as follows.
Principal: $1,910,400
Interest to July 18, 2024: $46,058.96
Section 17 interest penalty: $38,103.32
Legal costs of this notice: $1,995.67
Total: $1,996,557.95
Next steps
Lophos is currently reviewing all available options to resolve this matter promptly
and efficiently. The company is actively seeking financial solutions, including, but not limited to:
bridge financing, asset sales or strategic partnerships, to cover the outstanding amount and to
ensure the continuity of its operations.
Impact on operations
While this notice does present a significant financial challenge, Lophos remains committed to its
mission and business operations. The company continues to focus on its strategic objectives,
including the cultivation and sale of Lophophora Williamsii (Peyote), and is confident in its ability
to navigate through this period.
Statement from the board
"The receipt of this mortgage notice is a matter of great concern, and we are fully dedicated to
resolving it as swiftly as possible. We are exploring all avenues to secure the necessary funds and
are committed to maintaining transparency with our shareholders throughout this process,"
stated Claire Stawnyczy, president and chief executive officer.
Lophos will provide further updates as more information becomes available. The
company appreciates the continuing support of its shareholders, employees and stakeholders
during this time.
About Lophos Holdings Inc.
Lophos is a holdings company focused on the bioscience sector. Lophos
Pharmaceuticals Corp., a wholly owned subsidiary of Lophos, stands as a prominent
bioscience company specializing in the cultivation, research and sale of Peyote. Distinguished
by its controlled substance dealer licence, the subsidiary is authorized for the
possession, sale, sending, transportation and delivery of various controlled substances, including
mescaline, psilocin, psilocybin, LSD, DMT, MDMA and ketamine. Additionally, the licence grants
permission for the production of mescaline, psilocin and psilocybin, showcasing the
comprehensive scope of its operations.
We seek Safe Harbor.
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